You can find today’s edition of “Daily Market with JrKripto” below, featuring a roundup of the most important developments from both global and local markets. Let’s analyze the broader market sentiment and latest insights together.
Bitcoin and Ethereum Technical Overview
Bitcoin continues its volatile rise. Our ATH target in previous newsletters has been achieved. After breaking through the $123,100 region, it can be expected to reach the $127,000 area. In case of pullbacks, the $117,000 area will be closely monitored.
Ethereum, on the other hand, has broken its downward trend from 2021, which we mentioned in previous newsletters. ETH's short-term potential has increased significantly following this breakout. The $4540 support and $4770 resistance levels are areas to be closely monitored.
Crypto News
- BitMine filed to sell $20 billion worth of stock to acquire more ETH.
- Traders increased their positions anticipating the Fed's interest rate cut in September.
- SUI Network accidentally published and then deleted a blog post. The post stated that a listing announcement had been made on Robinhood. This likely indicates a premature release of a draft press release.
- Trump: He's considering filing a lawsuit against Powell over Fed building costs.
- SEC's Peirce: We're not waiting for legislation to work on crypto.
- Ethereum surpasses $4,500 for the first time since December 3, 2021!
- 21Shares filed a revised S-1 form for the Sui ETF.
- Kazakhstan-based Fonte Capital introduced Central Asia's first Bitcoin ETF.
Cryptocurrencies
Top Gainers:
- OKB → Up 174.6% to $126.64
- FARTCOIN → Up 24.9% to $1.07
- QUBIC → Up 20.6% to $0.00000278
- DEEP → Up 15.6% to $0.17445165
- GT → Up 14.9% to $18.80
Top Losers:
- PROVE → Down 15.3% to $1.43
- WEMIX → Down 7.8% to $0.79438738
- ZORA → Down 7.0% to $0.11173092
- ZBCN → Down 5.5% to $0.00488242
- B → Down 4.1% to $0.63282928
Fear Index:
- Bitcoin: 71 (Greed)
- Ethereum: 51 (Neutral)
Dominance:
- Bitcoin: 59.28% ▼ 0.69%
- Ethereum: 14.08% ▲ 1.78%
Total Daily Net ETF Inflows
- BTC ETFs: $65.90 Million
- ETH ETFs: $523.90 Million
Global Markets and the Most Valuable Companies and Stock Prices
The US July CPI rose 0.2% month-over-month and remained unchanged at 2.7% year-over-year. The core CPI rose 0.3% month-over-month and 3.1% year-over-year. Housing prices rose, while energy prices fell 1.1%. The data's lack of expectations fueled expectations for a Fed interest rate cut. This led to buying in global stock markets. US and European futures are positive, with strong buying in Asia. Progress in trade talks and expectations for the Trump-Putin summit scheduled for Friday in Alaska are also supporting markets. The dollar index and US 2-year Treasury yields declined slightly, while the VIX index fell to its lowest level of the year at 14.73.
- NVIDIA (NVDA) → Market capitalization of $4.47 trillion, price per share of $183.16, increased by 0.60%.
- Microsoft (MSFT) → Market capitalization of $3.93 trillion, price per share of $529.24, increased by 1.43%.
- Apple (AAPL) → Market capitalization of $3.41 trillion, price per share of $229.65, increased by 1.09%.
- Alphabet (GOOG) → Market capitalization of $2.46 trillion, price per share of $204.16, increased by 1.25%.
- Amazon.com (AMZN) → Market capitalization of $2.36 trillion, price per share of $221.47, increased by 0.08%.
Borsa Istanbul Updates and Most Valuable Companies
The current account deficit reached $2.0 billion in June. The 12-month current account deficit increased to $18.9 billion. Energy and gold imports contributed to the increase. The Treasury borrowed a total of 136.1 billion TL in the last two days. The BIST 100 fell 0.8% yesterday, with Aselsan and Tüpraş leading the decline. THY and Destek Finans Factoring limited losses. The Trump-Putin meeting and positive global sentiment may keep the BIST 100 slightly bullish today.
- QNB Finansbank (QNBTR) → Market capitalization of $2.95 trillion, price per share of $793.50, decreased by 9.98%.
- Aselsan Electronics Industries (ASELS) → Market value of 784.32 billion TL, price per share of 173.60 TL, increased by 0.93%.
- Turkey Garanti Bank (GARAN) → Market value of 614.46 billion TL, price per share of 147.20 TL, increased by 0.62%.
- Koç Holding (KCHOL) → Market value of 455.95 billion TL, price per share of 178.90 TL, decreased by 0.50%.
- Turkish Airlines (THYAO) → Market value of 440.91 billion TL, price per share of 319.75 TL, increased by 0.08%.
Precious Metals and Currency Prices
- Gold: 4377 TL
- Silver: 50.33 TL
- Platinum: 1777 TL
- Dollar: 40.73 TL
- Euro: 47.59 TL
